Morning Coffee Apr 07 2011

Cisco Hiring Freeze

By joseph walker

The network hardware maker Cisco has implemented a freeze on all nonessential new hiring, and layoffs may reportedly be in the offing. The company did not immediately respond to a request for confirmation of the report.

Cisco CEO John Chambers says the company he's helmed since 1995 "needs more discipline," but is vague on how he will enforce it. The $40 billion company is management top-heavy and has made a series of unwise acquisitions, some analysts say. Shake-ups or sell-offs of its consumer-side businesses like Flip cameras could also be part of the solution to the company's 15% drop in consumer revenue. Cisco is based in San Jose, California and has over 70,000 employees.

UPDATE: In response to a FINS inquiry about the hiring freeze report, a Cisco spokeswoman said, "We don't have any comment as it's our policy not to comment on rumor or speculation."

(Forbes, WSJ)



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